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The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) Abuja has commended managements of the Nigerian Midstream-Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian National Petroleum Company Limited (NNPC Ltd.), Dangote Refinery and other stakeholders in the downstream sector of the petroleum industry, for reaching an agreement to ensure uninterrupted supply and distribution of petroleum products in the country.
Other groups involved in the agreement aimed at ending the perennial crisis in the sector value chain include the Major Energies Marketers Association of Nigeria (MEMAN), Depot And Petroleum Products Marketing Association of Nigeria (DAPPMAN), and Independent Petroleum Marketers Association of Nigeria (IPMAN).
Commending the resolve that all oil marketing companies should purchase all Dangote refinery products, PETROAN added that the resolution also includes Dangote Refinery guaranteeing to sell an average of 28,000,000 litres of PMS daily for the next six months to oil marketers for domestic consumption in the Nigerian market.
The National President of PETROAN, Dr Billy Gillis Harry who addressed newsmen on Sunday in Abuja, expressed optimism that the resolutions would bring succour to the downstream sector and improve the Nigerian economy.
According to him, the new deal was part of a resolution reached by stakeholders on the absorption of domestic petroleum product production by Nigerian Oil Marketing Companies including the Nigerian National Petroleum Company Ltd.
Dr Harry added that the resolution would attract so many benefits which include stability of Petroleum products, control of price fluctuations, maintaining transparent communication, addressing conflicts proactively and fostering collaboration among key players in the industry.
National PRO of PETROAN Dr Joseph Obele further disclosed named those who signed the resolution to include the NMDPRA, NNPCL, Edo Refinery, Dangote Refinery, Waltersmith Refinery, Aradel Refinery, Independent Petroleum Marketers Association of Nigeria and Petroleum Regulatory and Petroleum Products Retail Outlets owners Association of Nigeria.
The document as shown to the press by the National PRO of PETROAN indicates the availability of Aviation Turbine Kerosene and diesel from all domestic refineries would be provided to the NMDPRA for the same period of six months and must be subject to consideration for import as may be required
Dr Obele noted that the NMDPRA must establish the basis for allocating import volumes to oil marketing companies on the assumptions of the aggregate of domestic refinery capacity with an understanding to cover shortfalls for respective marketers.
Dr Obele said the resolution, the domestic refineries would provide fixed quantities and delivery windows, which must be a period of two months preceding the month of delivery to the customer and NMDPRA.
He added that individual oil marketing companies were to enter direct commercial agreements with domestic refineries on a willing buyer, willing seller basis.
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